In This video, I take a look at Bitcoin from a technical perspective with a view toward a bigger correction. With the decline today and shift below the 100-hour MA, what would kill that idea of a correction lower? What would be the next targets if the short term...
Atlanta Fed Q1 GDPNow +2.3% vs +2.5% prior
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Bitcoin falls 3% to session low
Bitcoin dailyBitcoin hit a fresh record at $73,803 earlier today but the enthusiasm has given way to selling as markets broadly sour. Bitcoin is down 3% on the day to $70,900 as broader markets fret about the Fed decision next week. The US dollar is substantially...
Earthquake reported in Japan, government shares warning for Fukushima
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
AUDUSD tests the lows from earlier this week with the next focus being the 100 day MA.
In this video, I take a look at the AUDUSD as it follows the USD higher and tests the low in AUDUSD from earlier this week. A break below would next have traders looking toward the 100 day MA at 0.66735. As a bonus and in addition to the technicals that are driving...
Oil breaks out in a rise to $81 per barrel
WTI crude oil has been flirting with $80 for the past two weeks and a selloff earlier this week suggested it might not get there. But tighter US inventory numbers this week finally did the trick and oil has broken out to the highest levels since early November.WTI...
USDCAD buyers shift the bias back to the upside with a move back above its 200-day MA.
The USDCAD buyers are shifting the buyers back to the upside with a move back above its 200-day moving average at 1.34792, and also a move above its 200-bar moving average on the 4- hour chart at 1.34948. Sellers had leaned against the 200-day moving average earlier...
The focus has shifted to the Fed dots and the market now sees 50 instead of 75
Bonds are taking a beating today and the US dollar is following. US Treasury yields are higher by 6-9 bps across the curve today despite a weaker retail sales report.With CPI and retail sales out of the way, the market is now free to focus on next week's Fed decision...
USDCHF makes a break to the upside above moving average levels. Buyers making a play.
IN this video, I take a close look at the USDCHF from a technical perspective. The price is moving above it's a 200 hour moving yard at 0.87996. It is also extending above it's 100 bar moving average on the four hour chart at 0.88035. Staying above those levels keeps...
US January business inventories 0.0% vs +0.2% expected
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Modest gains for major indices to start the trading day
The US PPI and initial jobless claims were stronger than expectations. Retail sales were weaker but markets are more focused on the higher inflation/stronger job growth. US rates are moving higher with the 2-year now up 5.7 basis points and the 10 year yield up 6.3...
America leans further into protectionism with statement on US Steel
When does the US stock market start pricing in retaliation?US companies and individuals own assets all over the world but increasingly, foreign companies aren't allowed to own US assets. That's the kind of thing that begs for retaliation and is indicative of the slow...
BOJ arranging to end negative interest rate policy next week – report
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Kickstart the FX trading for March 14 w/ a technical look at the EURUSD, USDJPY and GBPUSD
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
US dollar firms after data slate
The market reaction to today's data slate is reminiscent to CPI.It's a three-parter with an initial hawkish reaction, followed by a complete retracement, then a renewed push towards the knee-jerk.EURUSD 1 minThe data overall was a mixed bag with a hot PPI and good...
Canada manufacturing sales for January 0.2% versus 0.4% estimate
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
US initial jobless claims 209K vs 218K estimate
Initial jobless claimsPrior 217K revised to 210K. Initial jobless claims 209K vs 218K estimate.4-week moving average of initial claims 208K vs 208.5K last weekContinuing claims prior week 1.906M revised to 1.794M.Continuing claims current week 1.811M vs 1.900M...
US February PPI +1.6% y/y vs +1.1% expected
US PPIPrior was +0.9% y/y (revised to +0.8%)PPI m/m +0.6% vs +0.3% expected (prior was +0.3%)Core:PPI ex food and energy y/y +2.0% versus +1.9% expected. Prior month +2.0%PPI ex food and energy m/m +0.3% versus +0.2% expected. Prior month +0.5%PPI ex food and...
US February retail sales +0.6% vs +0.8% expected
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Full slate of US economic data coming up next
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...